New York Fed Announces the Start of Secondary Market Corporate Credit Facility Corporate Bond Sales on July 12

 July 08, 2021The Federal Reserve Bank of New York today announced that the Secondary Market Corporate Credit Facility (SMCCF) will begin gradual sales of its corporate bond holdings on July 12, 2021. The New York Fed also released an updated set of Frequently Asked Questions regarding the sales of these assets.This announcement of the start of SMCCF corporate bond sales follows the start of sales of SMCCF exchange-traded funds (ETF) on June...

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European Central Bank's New Strategy Draws Line Under Policy Mistakes of the Past

 - ECB takes a “symmetric” view of its new 2% inflation target- In a bid to avoid premature dampening of returning inflation- Handing the Eurozone’s economies a longer recovery window- Indicates lessons learned after debt crisis era policy mistakesThe European Central Bank’s new strategy could lead to an even more protracted period of low interest rates and quantitative easing (QE) while being similar in its market implications to that of the...

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